The Sun. — London, England, 1826-02-14 00:00:00

and on that account—he had cherished* as the relic of a great man. This letter was written upon the bed at Bath from which he never rose again. The time wait about the period of the sutpe.nsion of payment at the Bank, and the ccincluding sentence of the letter was this ;—" Tell Mr. Pitt that if he ever issues a 11. note, he will never see a guinea again."—(Cheers.)—He had before said that Mr. Burke was a great man, and now he thought he had shown him to boneless a faithful prophet.. (ffear !) M the time of the Bullion Committee the lion. Gentleman (Mr. Baring) would remember that they were fighting in the same cause. And when the celebrated Resolution was passed which edged in the one pound note with a divinity which did nit belong to it or to any species of paper.—( A laugh)—he ()ir. Canning) lent-his opposition to that step. And he would•- ems say that an Hon. Member opposite did stand godAsther to that measure, although he could also say, and he now spoke knowingly, that the Hon. Gentleman was not its father.— (A laugh.)—But he considered the existence of that resolution es a strong necessity for passing such a measure as the one before the House. There was still a feeling abroad in the coun try, as hed been 'proved by the case of the Bristol banker last yr:motion the law did not compel the payment of these 1/. notes in Bold. When any do u bt existed upon such a question in the nand of a well educated man, it proved thot there was an uncer tainty in the country, and he thought it was created by the ex. 'nonce of th e reso l ut i on to which lie had alluded. It was upon this occasion that the declaration of tho Government was issued. An Honourable Gentleman opposite had asked, whether the Government had not repented the sending forth of that declare non. For himself, he 'Would answer, not for a moment. And for his colleagues, he could answer, that they had not done so 11 , t . any one pe r i o d. Th e H on . M em b e r for Taunton described t ProPosied measure as being mere vapouring on the part of the Government, and although they could not now be carried Into effect, yet that the time might come when they would be forced to resort to it. The time might come when the demands of' the public creditor could not be met—he looked to the oc ciltrence as to a great convulsion of nature—but he would not ; 1 . 4 1 that uo s uc h a state o f t hings could take place. But this " g would say, that for himself, if such a time were to come, he would never coasencto pet an end to the metallic circulation, and substitute a p a p er payment in its place.—(Cheers.)—But, w ith respect to a circulation without one pound notes, had the experiment never been tried ? In one district, and a most inn. losrtaat one, that species of circulation had never been known. l ie remembered that at Manchester, some years ago, a pro. Poul was made to introduce the circulation of one pound !totes, supported by names which were omnipotent in money afr utr‘ He need only mention the names of Loyd and Hey wood to thew that the greatest confidence would be inspired among all classes upon that head. Out when it was proposed at it public meeting to establish the issue of one-pound notes at Manchester_-without which they were told no business could be carried on—the proposition was rejected. The population in the district where this state of things existed were as numerous• es that of thelnetropolis. Here then were four millions of peo ple who never saw a I!. note, and yet were engaged in the most active occupations of manufactures and commerce of any Classes . ill the kingdom. 'rise evils which the system created might be illustrated by a circumstance which had happened in a dis trict near one of the small dock-yards. A deputatiOn had been lent from thence to the Government to say that there was not a one-pound to be had in that part of the country, that all the banks liad gone, and no money could be got so pay the work men. Were not these, then, evils which imperiously called upon them to supply a remedy by replacing such a description 0 1 currency by one compound of the precious metals. He would not say what it should be, because he wished_ the plan of a Mixed - standard recommen ced by the HOnourable Member for Taunton to receive consideration. But it was in vain to think of Supplying gold whilst this description of paper ex 'tette Here indeed the chiumels *ere choked up, when gold attempted to flow in. The base must be irrigated with gold, and the paper raised upon it. Although they should pile. mountains of gold upon a - foundation like the present, it would never keep its place in the circulation of the country until men W ere accustomed to use it in their common dealings, and to rater the value of, Money to a metallic standard. The mea sure of his - Right Honourable- Friend would restore this _ s t eeling, and - he calculated to fix the currency upon a deter beea and immovable Wise ; so slight would the effort—so large the benefaction. It was im possible to look at the opposition arrayed against this measure without see ing that it was divided into two classes. The one—and that the larger one—not objecting to it upon the grounds of time, or the mode of carrying It into effect, but from an unsparing, indis criminate, inveterate hostility to any departure trom the cur. tr ncY, aset had been established during the wan—(Hear, hear !) To contend with these Gentlemen was hopeless, and' not to be undertaken. They-meant a thing so totally different from what was proposed by the Government, that there could be no. thing gained-by a rgument. They were for unceasingly main -4,, tang that system by-which the promise was ever kept to die eye, but-never to the understanding,—(Cheers.)-1 here : w ere others who wished to resort to a sound principle of cur rency, but 'objected to the present time. He was sorry that the Step bad not been taken long ago ; but it was due to the Go wenunent to any, that they did provide for it when a Bill was afterwards untortunately passed which extended the time ut which the law should come into effect. He confessed that,with regard to ilia future, he could see no time more appropriate than the present. -How stood the law at pres Ont ? Let those who. wish. eel to decree the perpetual prolongation of the paper system re. Member that, as the law now stood, it would put their favourite H. to death in 1833. Was that a period, just at the expiration of the Bank Charter, when such an operation as that now pro. Posed, could be conveniently carried into effect ? In the vari ous recommendations of delay, some had suggested a year; and one Hon. Member had stated that a month would be aeceptable. Aow he Was convinced, that any delay would serve to defeat the meilettre.—(Hear!)—The Country Bankers said they wanted •titne for preparation. Now would lion. Members answer t hat the. interval, if granted, should be occupied in making that preparation ; or would it not be used to strengthen their 'tn, sing of opposition so as to make it effectual in the end ? sing • 1i0n..--Friend's countenance was too ingenious to deny that they were already laying their schemes.—(A laugh.)— bet they had experience of the offects of granting delays. The House had deterniined to throw open the channels of commerce fto all the winds of heaven and all the quarters of the earth, and to launch a system of greater liberality in trade. In respect to the article of Silk, a measure , of this nature was adoptedoind the parties interested in It asked only for a little time.. This was Wanted, and how had it been used ?..-.(llear 1)—In raising up (le greatest • possible 'obstructions to the measure ever being corded into effect. They had pushed their manufactures to thA greatest excess, and iMported the raw material in such quantities as to overstock the market., and cause a state of shocking distress among the labouring portion of the menu fecturera—and this was now- to be used as the ground for de- Mantling a farther protraction of the measure. Was this a rea rtonable encouragement to induce the Government to fall into the snare a second time, anti so stultify another of their own The eaures. Ile hoped it would not be considered unworthy of fly Minister, or of any Member of Parliament to say that he co ntemplated the present state of the country with the deepest p a in, and with feelings of great anxiety. And much as.lie differed from some lion. Gentlemen who had spoken in this de bate, he would say that there had been, on all hands, a most Praise -worthy abstinence from topics which might have been le gitimately pressed upon the House, but which must haveadded to the distresses and disordered alarms of the country. The sub ject had been submitted to fair and free discussion, but with entite abstinence from all that might appeal to the passions, and disarm them of the deliberate and serious reflection, without which the question could not have been duly con , Caere& Bat how could they, as an Assembly of Englishmen, so far refrain as not to say that they did deeply sympathise :with the su ff er i ngs o f a delis for - whom, either from acquaint ance, habits of connection, or from a general admiration of their conduct , all felt wh at they could not express ; and upon whose ease, prosperity, and comfort; the welfare of society at large so mainly depended. There was an end of all national feelings if these sentiments were not common to all. They 441 not mean to say that the measure they proposed would go the present relief of that distress which they so much le. merited; but it would , give an immediate protection to the Poorer classes against the recurrence of such calamities. And, as had been said by a King* France, that he wished the day would come when every peasant hi his kingdom would have a fowl in his pot, so they could say at least, that if the poor man lied the power to earn it, they wished to see the day when he would have, not a piece of paper, but a piece of gold in his Peeket..--iClicers.) Mr. PhARSE said,• no man wished for an arrangement of public embarrassment more than himself. At the same time its was desirous that the measures to be adopted should prove a fflictive. He had no disposition to become an alarmist, but ne thought it possible for a case to arise In which no Issue of bank notes could answer the purpose of the Govern.. Mont, without It came from a Coinpany chartered as the Bank &so w( abglAnd then was. The lion. Member wished to make a .14W Observations with reference to what had taken place on the Int i. .hiect of the Bank. He was ready to praise the mtehtions of biajeaty'e Ministers, but could not avoid saying there had "Veit much delusion in the speeches of lion. Members, with re- Vett to the profits supposed to have been derived by the Bank. --The Honourable Member for Tauntonshad.been quite incor. • The Bank had been held up as taking large profits out of b ad POlic money is their hands, but the necessary.explanation not:lmen given. The Bank paid money for the advantages e lw eldwid-stheyadtraneed 3,000,000 1 . without Any interest what '''vers The panic bad made greatsacrifices during the war, and it would aPtelte that all the advantathe bank. ges were not on the side of The Hon. Member dial not wish to see the bank :deprived of the chatter. . He thought it would be most inju. slobs id the country whenever that charter was taken awsj.—. Ile did at want any - exclusive privileges, but he wished never to tee a rival bank in London. A rival bank in the Metropolis would be productive of the 'worstzonsequences.e With respect to the change which had taken place fn the currency of the coun try, he believed that the circulation of the country banks had not been the cause of the overtrading e it had arisen out of the pro sperity of rhicountry. Trade reached an unusual height; every thing was so cheap that persons were actually out of employ.— When allthe capital appeared to be employed, they'had more surplus capital employed than at any former period. He knew one banking.house which hail no less than 3,1)00,000 of capital in bills; others were in a similar state, and that.whielfweicalled abundance of capital, Was abundance of paper.' This brought on the_ceisis. One house in London breaking, broke nthers.--. Forty-nine.Countryllanks failed—then came the'penic. Cor fidence was gone, and Parliament had to consider how it could he restored. The country was still rich, and things might come about. Upon the whole view of the question, the Hon.'leni..; ber wee disposed to remain as they were, rather' than decide rapidly for the adoption of any measure which might have an , injurious effect. Mr. BAILING said he was anxious to bring this very impel', tent question to issue; for he Was convinced that much Injury would be done ley a discussion of this sort day after day. lie should, therefore,.feel it his duty ttilake the sense at the qonio upon an .Amendment. His impression was; that the proposed measure was one , of dang er, . and he should a Keeortition to that effect. Ire should move a Reitolution ' • • ' " That it is the opinion of this House, that in the preset t distressed state of public anti private credit it is not expedient to enter into consideration of the Bankini• System of the Country." The state of fever in which the country was found, made it unfit to go further into discussion. The proposition he shotild submit to the House eirould decide the question. If the House thought proper to support his Majesty's Ministers in this project, he should give up furtoeropposition. Before he moved his amend ment, he was desirous of saying a few words in the_ way of ex planation. lie had first to apologise to the Right Honourable Gentleman for that which he•had said. He thought the Right ilon: Gentle Man had imputed to him a desire to persist in finis. representation.. fie could not avoid calling the attention of the House to the peculiar situation in which it stood. ' The country was in a most extraordinary position. No person ever saw such a state of utter want of confidence between'man and man. Although a clever speech, made by the Right Hon: Gentleman, Who stood high in the councils of tire' country was deservedly a [mired by all those who heard him, it could not reach ilk understanding of those who:looked for re distinct remedy. No Man of business in that House from one end to the other, whe. ther Merchant or Banker hail told them. he 'had confidence in the proposed measure. None hail ventured to• say it could he adopted without danger. One Gentleman, - who knew some thing about the circulation of the currency, had merely said he was hiclined to vote fur the Resolution. Gentlemen came from the Inns of Court, with information derived from books, to give the measure support, hut not one practical man could say it was possible to adopt it without danger. The Right Hon. Gentlemen with his great and spleoditi talents had given the strongest support to the intended measure, yet upon such, a question he (NIL-Baring) would rather take the opinion ef .he Right lion. Gentleman at the Head of the Board of Trade. The speeches made on this subject brought to his recollec tion the story related by the Earl of Chesterfield. One per son made a speech -which was plain but good Ws:, po one, however, attended to it. Another made a brilliant speech which hail no relation to the subject. Every one attended . to it, and it was considered excellent. ;The -first, which was really good, was decided to be the worst. All -who had taken the Subject from books and theory were decided on the subject. They made brilliant speeches, upon a false view of the subject, anti who could say that very circumstance was not an increase of the evil. The object was to restore-con fidence and something like ease, by bringing about that change which must be attended withevil. . Men of business recom. mended delay, and their- judgment must , be better than theory. The issue of one-pa - Lind notes had been condemned, but one. pound notes had little._ to do with the panic. All the vile schemes and Impositions were town made. The'countryinen were the dupes of London sharpers. The ever-trading was with merchants residing in town, where a one-pound note did not exist. It had Veen urged, that if they did netMelte the change then, they would never make It. It it really was a nuisance to be abated, that House ought to do its duty; but what was the case ? Would any commercial man get up and say the change could be made without peat risk Tf any Gen tleman could. say ;here was . no risk, he would give up his oppo.. aidou. The Hon. Member repeated his former objections to the measure. It wit's out of time ; the experiment should not be made' with the eXperiments for the benefit Of free trade. It would throw the country into confusion and upon the eve dr geperal election itinerant statesmen , woul d not tail to use it as an instru. ment for promoting their attempts upon credulity. Ile had formerly stated his opinion that-difficulties in the currency had been occasioned by choking the resources of the Bank. 'fire Government had drawn too much upon those resources. Under wise and proper management he thought public business might be carried on with the • present currency., He would leave the thing alone for the . present, and legislate respecting the country' bang" notes girths' end of another year. The Hon. Member concluded by Mewing the amendment which he had previously stated. - . litlx..llol4ooE 0 itENp ELL believed in his conscience that there would be "no safety to the credit of this country, unless 'the placgof notes were to he supplied by a metallic currency. The bank note system was one of the causes of the present evil. The Amendment was then read by the SPEAKER. Ire BROUOII AM. did not know whether lily lion. Friend would allow Km to differ from him, but nevertheless he would state his reasons for so doing in as short - a time as he could. It was his opinion that a recurrence to a metallic currency was the only means of restoring that tranquillity which had lately been so disturbed. It could not be denied that the panic had commenced with the holders of the one and two pound notes, perions generally speaking in an inferior sphere of life. This had increased gradually, so that io the end individuals who were possessed of larger notes had also been affected by the panic. It was necessary that sonic decielve step should be taken to prevent a recurrence of this terror. lie did not like to hear his Honourable Friend (Mr. Baring) wish for a postponement of the question. Prcenistination in this in stance Would do infinite harm. lie knew very well what would be the consequence, when at some future period they would propound the question. The answer would be, " What, shall we go back? No, stand still. Don't retrace your steps." If in a time of prosperty, they would be met with, " 'Tis a pity, when every thing is in so flourishing a state, to do away with these notes." And if at a period of embarrassment still sonic excuse would be ofibred, " What, would you encrease the em barrassment ?" He wished something to be devised as soon as possible at the present period. His lion. Friend hart said— " Don't do it now," but then he had not said when he would do it. If he would state any fixed period, something less than three years he would then be satisfied. He thought that if it were generally known that as soon as the notes now in circula tion were worn out, fresh ones would not be issued, they would find that at the end of a year and a half, or at the utmost 3 years, a metallic currency, which had gradually supplied the place of these notes, would be fully established. None of the Hon. Members on either side of the House had yet suggested a cur rency which would he intrinsically valuable, whether of gold, silver, or even a mixture of both. lie thought that tampering with the currency as it now stood, or proposing one which. would be liable to be changed every two or three years, was not only impolitic but also unjust to a very great 'degree. He would merely say to those Hon. Gentlemen who were doing so at this period—" Recollect well the month of December; reflect on all the horrors of that fortnight or those three weeks of dis. tress !" 'He was fearful that it' the former circulation was still allowed to go-on, the mischief which they had been labouring to stop would return with all its train of horrors. He did not doubt but that it would be followed by distress in another quarter, he meant the agricultural. In it state of suspension like the present, he should give his vote for putting the ques. tion at rest. Mr. Secretary CANNING (amidst loud cries of " Question, question,") expressed a hope that the decision of the House on this motion would be decisive on the whole qUestion; and the sooner that decision was given, it would be the better. The House then divided...-. For the Motion • - • - 2 39 Against it . . ge Nlajority . against the Amendment 193 I ;During the exclusion of strangers the House went into a Committee, and the adjourned debate was resumed. on being re-admitted we found Mr. flunsoei GURNEY proposing an Amendment to the original Resolution, which was understood to be that the words "of the Bank" be omitted. - The CHANCELLOR of the EXCHEQUER objected to the proposed Amendment. MABERLY had received a letter from Scotland, in which the bankers of that kingdom expressed their anxiety to know whether duty would be affected by these Resolutions ? The CHANCELIAR of the EXCHEQUER thought it advisable to confine the operation of these Resolutions at pre sent to England ; something else might be devised at a future period for Scotland. Mr. lINME was sorry that he had not bad an opportunity of explaining his reasons for differing from the Non. Gentleman, whose Bill was intended to restore a metallic currency. For he conceived that it was owing to the small note currency that these distresses originated. Mr. Secretary PEAL in reply assured the Hon. Gentian, that had his Bill been carried into effect, there would not now be a single country note in existence, because it strictly forbade the issuing any newt but from the Bank of England. Mr. BARING thought that some sontroul ought to be placed on the C H A NC EL LO RIey ernnt relati EX CH E Q UERssese notes. Thr of NI tated that Government could exercise no controul over the Dank, as it a , mit independent body. , Tile Coturnittea then diviiled-1. ,For the original.Rosolutien For the, 4 m end m ent Ilajoritv 59 The House that resumed; and the .Report of the Resolutions was brought and ordered to be taken. into further consideration to-morrow.—Adjourned at Two o'CLotit. ritieg,oF STOCKS Titti flank Stock '194 3 34ittitCeltt.'lted.. 3'll.or.c.ent. Cont. 7i34 4 11 31 per Cent. 1/ittolllett B3l, 9i l'e'er tent: New 92 1 Bank. Long Ann.. India Stock Ditto lltindi • • • South Sat stock.. • . PItrCES OF roitup...uF AliNtrian Mid, 5 per cent Brazilian • Itt2 5 . Buenos Ayres lida Cinlian, l 4(ls 6 per cent — Coloinbiati Do. 40. 1324 N 49ii 6 7 2 Ditnish, 6 per cent. Do. 1825 (heek lids Do. 1825 • 17i 17, 18 . 17 Guatimala ' ilexicitrt Bch • ' ' 53 Do., 1025 56:t 6 ;104.49 Y AT ONE,O'CLOCK• Old Anntutiei New Ditto _ . ... E74.11i11u10001.14d. 1122 13 dis. I)itto'6oB/. lid.— 12 2113 dis. Ditto Snail .. 12 8 dis. Ditto Advertised - Bank to i r India for Acct. ' (ions: fcif.tect. NOS AT ONE O'CLOCK. Mexican Scrip . Neapolitan, 1824 — Neapolitan Scrip • — Peruvian Bonds Do. Scrip Portuguese Bonds Prussian. 5 per cent. Ditto New ... -- Russian. New . , 5 p. et.... 7 3 1 3 Spanish 1821, sp. c. 1823 — French Ilentes, sp. c. —f. —c. 1:x change ... --r- -c -3p. c. - —E —c. lixchange ••• —l. —C. PRICES or SII.II4ES AT ONE O'CLOCK. Per Share • Colombian 'killing Company 6 '- New Chiitei Alexi= Arid* toinpany, • l ..... 12 Ila 124 FOU I:1 GN I> a: E. linernsey and Jersey Lisbon •• tiottenburgli liinnburgh Friinee • - .--..4111.6.... !lulu 1t...A TEN AT LONDON BRIDGE TO-MORROW. ilorning, 17 niirlntes after 7. j Evening, 44 minutes After 7, TIZE SUN. SOLE,3I BUIS DiC,BRE FAISU.Af .-tUDEAITY LONDON, TUESDAY EVENING; FEBRUARY 14, 18211. The Lisbon Gazettes, from Ow 31st January to the 4th February inclusive, were received this morning; they are entirely without interest. The fullowing o are extracts : Ltsnow, JAN. 30. All the difficulties being now removed that hindered the dia.. tribution of the prizes made during the Peninsular Virar, hie .slajesty has been pleased to appoint. a Commission, composed of five .o.fEcers; to proceed immediately to the allotment of the said prize-money. FEB. 2.—The Gazettes of the let and 2d Pebruary contain a very long series of regulations approved by the King of Spain, for the service of five ships (fluartla Cokes) on the coast of Catalonia, for the purpose of pursuing and destroying all smuggling, piratical, and rubel , iesseli. These regulations are in more than forty articles. FEB. £—The Gazelk contains at great length the sentence of a desperate band of robbers, who had committed numerous excesses in the province of Alentejo. One of them, a youth of 19, haying been guilty of murder under very aggravating cir cumstances, was sentenctli to tleath, and executed, notwith standing his minority. Another was condentned to banishment for life to a Presidio in Africa, and to be liable to capital pu nisliment if ho should.return ; four to ten years' banishment to Angola ; and five to five years' banishment to Cupc Verde. Exchange on London, 52j . We congratulate the Country on the termina tion of the talk iu Parliament on the question of the Country Bankers Notes, and the Bank of England Charter. A more profitless debate, or one out of which less was elicited, never took place within the walls of Parliament ; for al though the House sat until a quarter past two o'clock, our readers will look in, vain for any ad ditional information in the long and wearying speeches 'with which our columns are filled. The issue, however, has been favourable to . the Minister, and notes for ono and two pounds will be withdrawn from circulation, and the Charter of the Bank curtailed, in pursuance of-the plan of the CHANCELLOR of the EXCHE6EU. 'What effect this plan is likely to produce upon the commercial interests of the country, we shall presently see. In the mean time the distress is proceeding with fearful ra pidity, and appears not -in be in the remotest degree checked by the measures . the Govern. ment.are now taking. The issue of Exchequer Bills to the merchants is another expedient of Ministers to arrest the progress of the evil s but it should seem that little good can be expected from it, for even now these securities are at a des- count, and any augmentation of the number In circulation must naturally tend to depress their value iu the money market. With a view to avoid the effect, it is now proposed, we hear, that the Bank shall make advances upon these Excite. quer Bill's, and thereby money will be at 011C0 put into circulation, and the dreaded fall . in the value pf. Government paper prevented. This anticipation is correct ; let us, however, have a cure; a stretching of the prerogative is not with out,precedent ; and .however dreadful was the power a ss ume d by the . Minister in stopping the stamps upon small notes, we CatillOt have forgotten that an Order in Council, prohibiting the Bank from payi ng cash, WO been before now issued and acted upon, and indemnity subsequently I allowed, THE FUNDS. To such as may have been deluded into a be liefi that the crisis of financial diffidulty has been past, the state of the Funds and the Money Market this day, may show on what foundation that flattering opinion has been founded. Googols—Yesterday, closed After the Close 76} 761 This morning, the market opened at 75—but dropping instantly to 75, the 11u16 were caught, without the possibility of getting out of their Stock. Before eleven, the quotation for Consols was 741 ; this stimulated the efforts of the opera liars, who turned the falling tide, to 7.4 5. At 12 -the—ebb again began, and 741 was the quotation—at 1 o'clock the price of Consols was 74} f Account-74 Money! The silence of the Minister last night, as to the expected relief from an issue of Exchequer Bills, is by many supposed to be the immediate cause of the unexampled embarrassment of the British Stock Market. Money Stock is abundant ; but if sales were imperative to any heavy amount, no. Broker could safely hazard an opinion to- his principal, of the price he might obtain. The Commissioners were served with Reduced at 74i. At no tion. has the scarcity of Money been ho pressing, nor the necessities of the trading world, so urgent. The factfof small Exchequer Bills having been at a disconnt of 12, is decisive on this point. Bank Stock - - 3 per Cent. Consols (Money) 3 per Gent. Reduced - Sj per Cent. Reduced New 4 per Cent. - Exchequer Bills, £lOOO-14 23 18 dis. £5OO-12 21 13 dis. £lOO-12 8 lie. Some few bargains in Consols are said to have been done at 74. 193. 741. 83. 90i. FOREIGN. SETTLING DAY.—The feature of this tvirket is precisely what has been anticipated, as inevitable, at some period—South American and other Foreign Securities, scarcely convertible at any price. At 1 o'clock two defaulters had been declared —one, a Hebrew of some consequence. In this market, differences are now payable only in Bank Notes,—Checks altogether scouted, and Loans on Foreign Stock, entirely in►practi. cable. Colombian 1824 has liven done for money of 40 ! At one, the price for account was 44 ; Mexican ti per Cent., 52 ; Greek is the only se curity not depressed—now 18 ; Spanish, Y. Russian Bonds are now only 73. SHARES. Of the Share Market, the less said the better. FASHIONABLE INTELLIGENC E. ARRIVALS IN TOWN: The Doke of Devonshire, from Chatsworth ; the Bishop of Ely and famil?, from Ilelvoir Castle; Lord Elliot, from a tour; Lord Dudley and Ward; Hon. Mrs.-Egerton, from Windsor ; Colonel Gore Langton and family, from Newton Park, Somersetshire ; the Marquis and Marchioness of Hunt ley, and the Ladies Montague, from Newmarket. DEPARTURES FROM TOWN. Lord and Lady Churchill, for Oxfordshire ; Sir. Robert Gunning, Bart. for Northamptonshire; Mrs. General Burr, for - Richmond ; Lord Lisburne and family. The Princess Augusta arrived at her residence at Frogmore yesterday from flags hot, where her Royal Highness hail been staying on a visit to the Duke and Duchess of Gloucester. The Duke of Gloucester has left town for Bagshot. On Saturday the Duke of York gave a grand dinner to a party of sixteen, consisting of several of the Cabinet Ministers, some of the Foreign Ambassadors, Ministers, &c. The Earl of Listowell had a dinner party yesterday, at Kingstm House, Knightsbridge; in the evening her Ladyship entertained a large party of the 4aut ton., Emily Marchioness of Londonderry had an elegant evening party yesterday, at her house in St. James's-square. • Lord 13exiey entertained a distinguished party to dinner yesterday, at his house in Great George -street, Ni r estminiter. Th e Dowager ,Marchioness of Salisbury's conversations on Sunday evening in Arlington-street, was elegantly attended. THE ARMY. Detachments belonging to the 13th and 14th Regiments of Infantry marched yesterday, from Westminster, for Chatham. A Detachment belonging to the 11th Regiment of Light Dragoons marched yesterday from Westminster, for the , la. valry Depot at Maidstone. Detachments belonging to the 2d, 20th, 38th, 1417 d 48th Regi ments of Foot marched yesterday, from Westminster, for 'Can. terbury. A detcehment belonging to the 85th Re_giment of Infantry marched yesterday from Wcistininster for Dover. Yesterday Sir H. TAYLOR transacted military business with the Duke of Youtt, at his house iu South Audley•atreet. On Saturday evening a Russian courier was stielte,:;itor.uffisjwAanTitclAllidrmoisbitpapastsscatlfeosrafionrgS,st.etersburgh from Messenger, arrived in tows n yesterday with dispatches from Ptiris. The REconnen's. Report of the prisoners un der sentence of death In Newgate, which has been delayed in consequence of the LORD CJIAN• CRLLOR'S indisposition, will be made at the Council,to be holden to-morrow (Wednesday). I NCLEDOMe--Me regret to announce the death of this once celebrated vocalist, which took place oh Saturday night last, at twelve o'clock, at Worcester. We mentioned, some weeks since, that he had experienced, a severe paralytic at• tack. His lon will be long lamented by a nu• Inerous circle of friends, As a singer, in his peculiar style—and we all remember what than style was—ha had no equal while living, and we f ea r 'he has left behind him no one likely to supply his place. THE SCOTCH BANKS, The general eulogium- passed on the safety of the principle on which the . Scotch Banks are established, appears to-be atkogether founded on misconception. In fact, the only difference be tween the Banking Associations of England anti Scotland is, the limitation of partners in a Bank ing-house on this side of the Tweed, to ki,v per sons, In all other respects, the Scotch - Ranks. are precisely similar to those in England, Vitt,: following extract from the Edinburgh Keikki6 4 ' affords some useful information on this subje,ll-- .. " It should also (the writer observes) .b e I cekt owing to the comparatively liinited extent anrpoptaition of Scotland, we have only from twenty-eiglil to thirty es!abilsh4; mints for the finite of notes ; and in consequence of this fewlt ness of their numbers, it is easy for them to concert their rues* sures in common, and to support each other duringia period of .1 panic. Those who, were acquainted with the,,real 10.14 e of thing in Scotland•were not a little amused by the paragraphs in, thersi Newspapers about the confidence, stability, &c. of tit.: Scotelt Banks during the late crisis. The truth is, that these estiiblishz" ments , were then, we shall not say on the brink of deatritetio;r44 but certainly in a state of very great danger. !pad the Britiabo Linen Company and the National Bank noi stepped forwair to the assistance of the Fif e B an k, t h e I st t er mast have stop payment; and the alarm that would have been cauasti , by,tirat circumstance, in conjunction with that which Was caused ,b 7 the failure of POLE, TllOli NT ON, and . would hardly, have failed to occasion a ran that might have been productive of tbo moat disastrons consequences.. ,! " It is obviously impossible, however, that,any "such coneert. can ever obtain among the'hutidreds of banking -estis,blithments that must always exist in England ; and this ei re umit a nce i t ; Of itself Su ffi cient to vitiate all interferences drawn from the , state of bunking in the one country to its state in th e other. .. , No contagion spreads so rapidly as that of a panic. A failure' in Portsmouth not unfrequentiy excites a strong sensation in Newcastle; and has ultimately, .on more than one occasion, led to a run on the latter ! We apprehend, indeed, that moat of those who have been so very lavish of their eulogies on the Scotch Banks, have been but very slenderly inforrnea with respect to the real situation, of these 'establishments. from the statements recentiv put forth, one would be led to suppose that there is not a Binh in Scotland• Without some hundred partners; whewas, the plain. matter of fact is, that out of twenty-40f or fiarfy establish.. meats for the issue of notes, there are TwE NT Y, the no other of` whose partners vary from fifteen to two, one, ma three I The Bank of Scotland and the Royal Bank are out of the question, for they are chartered Banks, and the partners are 'only liab'e ter the amount of the shares which they respectively hold, or, taking them in the aggregate, for the cayital of the Banks, which is any thing but an excessive security, And with the exception of the Commercial Brink, the British Linen COM: patty, the National Bank, est a bli s hed on ly t h e other day, two banks in Dundee,theAberdeen Bunking Company and the Pi r h Banking Company, the partners in most of the other banks are very little, if at all, more numerous than those in the English Banks. For example, there are on ly 15 p artners in the Leith Bank, and If in the house of Sir Wst..l.OttnES and Co. ;- the Greenock Bank, the two Paisley Banks, anti the Renfrewshire Bank, have amongst them only twenty five partners; two of the very first ban ks in Glasgow, the Ship Hunk and the Thistle Bank, have only thirteen partners; the Ayr Bank has only nine ; the Kilmarnock Bank jive, and so on. And it will b e o b serv ed not only that many of the establishments with the smallest number of partners arc founded in the West of Scotlarul, where the risk incurred by the bankers is infinitely greater than in the other parts of the country, but that the notes of some of them have a most extensive circulation ; and that they enjoy; and we believe Most justly, an equal share of the public confi, thence with those that havonpreni , merous bodies of proprietors.' 1 NORTH AND SOUTH AMERICAN SUBSCRIPTION ROOM, Vxn. 14. LIVERPOOt, FEn. 12.—Wind %V,S,%V. freab breeze.—A rived the Alexander, Baldwin, from Charleston, sailed Jtat. in company with the Marmion, Petrie, for Liverpool; the (e -neral Brown sailed Jan. 23, for 'Liverpool. Cargo of the Alex, ander, 1,126 bales of Upland Cotton; ditto of the Murntion, 705 ditto, 99 Sea Island, and 410 barrels of Suar. Alm) ar. rived the Ajax,. Nichols, from Savannah, sailed Jan. 0, in corn. }zany with the Niagara;. Elizabeth, Biker', from Jamaica; Rover, Cook, from Alucalo.; Minerva, Chambers, from Beetles Ayres and Monte Video, sailed Nov. 17—(every thing was quiet at Monte Video when the Minerv a l e ft) ;—Defianee, Lily (American Schooner), from St. Michael's; Juniata, Cutter, Liverpool, at Wilmington Jan. 18; Robert Me:William, cockson, cleared at ditto for Liverpool Jan. 18 ; Ann, George, Livool, at Monte Video Nov, 13. P r ic e of Canoe, Jan. 17, at M illedgeville, 10 a 10' ills. per pound ; price of ditto, Jan, 19, at Fayetteville . , 11 a 11::, DEAL., JAW. IL—Arrived, and proceeded to the River, the Lalla Rookh, Stewart, from 'the Zak of France; P.trobe, Richardaon, from Demerara; Sarah Ann, from the South Seas; and the Princess Royal transport and the Trans, port No. 5 ditto, from the westward. Came down from the River the Regent packet, Collins, .for Terceira; Tickler, Wright, for Jamaica; Harriett, Kindley, for Vera Cruz, ; Hehe, Heaviside, for Rio Janeiro ; London Pack e t, Mackay, for Boston; Faith, Dalivitte, for New South,Wales; and Dicta, for Bahia ; all remain in he Downs. f FROM LIJOYnts.I DEAL, Fru. 13.=.-Wind and sailed for the River, the htllagtookh, Stswart, from Penang, sated the 24th of ()either; S:trah Ann, Phillip, from the 'ouch Srret, with 1000 barrels of oil ; Phoeby, —, from Demerara ; Prin cast Ruyal. and 1 Villiam Harris transports, finm Corfu—the latter remains. Came, clown from the River, and remain, the Prince R9, , ent, Collins, for Terceira ; Deliote, for New South NI ales; London 'Packet, Mackie, for Boston; Asia, Round, for Carthagena ; Ilarriet, Aindley,' for Vera Cruz, and Dido, for Bahia. • PORTSMOUTH, Fun. I3.—Wind S. to S.S.W.—Sailed the Juliana, Trines, for Madras and Bengal; a nd th e Wallet mina, Weyboitrgh, for Haniburgh. PrAtmotrrit, FEE. 12.—Wind SM.—Arrived the Perseus, Jackson, fain Newcastle for Bermuda. Sailed the George anti Thomas, with several others, bound eastward. FALMOUTH. FRR.l2.—Wind S.W.—Arived the •Sanil. wich Packet, from Lisbon, sailed the sth inst. Sailed the Lion, Jones, for Jamaica; and the Maria, Tessier, for London. LivERPOOL, FEB. I2.—Wind S.W.....:Arrived the bath, Ekin, from Jamaica, failed from Montega Bay the 21st of December; on the 4th of January, in the Gulf, picked up the crew ( 18 i n number) of the Danish ship Ida " Margaretta, Christian, IVom Hammitt for Ilamburgh, , which vettel was wrecked on the Doublc.headcd Shot Keys ; also _arrived the Minerva, Chambers. from Monte Video, bailed the 19th of November (left the Ann and the Grove there) ; Mary, from Trinidad; Alexander Baldwin, Chariwiton; . Ajax, Nicoll, Savannah " Rover, Cook, Multi(); Greg, Bflboa ; Pelorus, Goodwin, Messina; Minerva, Marseilles; Margaret, Long, from Charente; and Defiance, Ely, from St. MiehrtePs. The balls Rookb, arrived in the Downs, left the following ships at St. Helena, viz. :—Thst Malcolm, from Machu ; Magnet, and the Calcutta, from Bombay, and the Catherine, from Batavia. _ The Meda l e of Liverpool, has been condemned at St. Thomas's (Africa) as unseaworthy; master and crew (except the mate) died previously. The Ophelia, from Liverpool to Savannah, was totally lost on Kish Bank on Saturday, and two of the crew drowned. MIDDLESEX. SYMONS (THIS DAY) .--.These Sessions commenced this morning before F. CONST, Esq..,and a Bench of Magistrate.. The traverse paper is by no means heavy; there ore, however, a great number of larcenies for tri a l. THE MESSRS. LAW SON.—The parties bound over to prosecute the above Gentlemen, who are committed to Newgate on the capital charge, Lord Ellenborough's Act, attended this day at Clerkenwell-green for the purpose of indicting them. We-regret to state, that a communication was yesterday made by Dr. %Turman; In the Court of Arches, Doctors' Commons, tolhe afrect, that Dr. LusurmoTom, in consequence of severe ill. mess, was unable to come down to the Court to argue two important can* ,which he was r e . gained. I k